Gyeongnam Province Takes Initiative to Foster Future Air Mobility Food Industry

Do-Jinju City-KAI-Gyeongnam TP Hold Business Agreement Ceremony

[Asia Economy Yeongnam Reporting Headquarters Reporter Lee Seryeong] Gyeongnam Province is taking full-scale steps to foster the future aviation food industry through proactive investment in future air traffic.

On the morning of the 17th, the province signed a business agreement to establish a Future Air Vehicle (AAV, Advanced Air Vehicle) Demonstration Center together with Jinju City, Korea Aerospace Industries, and Gyeongnam Technopark at the provincial government meeting room.

Gyeongnam Province signed a business agreement with Jinju City, Korea Aerospace Industries, and Gyeongnam Technopark to establish a Future Aircraft Demonstration Center.
[Image provided by Gyeongnam Provincial Government]

The Future Air Vehicle (AAV) is expected to serve as a transportation means for Advanced Air Mobility (AAM), solving problems such as traffic congestion, environmental pollution, and noise pollution.

According to global investment bank Morgan Stanley, the future air traffic industry is predicted to grow at an average annual rate of 30% until 2040, forming a market worth 1.5 trillion dollars (approximately 1960 trillion won), with over 700 future air vehicles being competitively developed worldwide.

Domestically, the Ministry of Land, Infrastructure and Transport announced the ‘Korean Urban Air Mobility (K-UAM) Roadmap’ to commercialize the technology by 2025, organizing related systems. Korea Aerospace Industries, Hanwha Systems, Hyundai Motor Company, SKT, and others are actively engaged in vehicle and system development and demonstration.

Accordingly, Gyeongnam Province plans to proactively establish a demonstration center by next year in the Gasan General Industrial Complex area in Ibanseong-myeon, Jinju, where research, development, demonstration, and flight testing of future air vehicles can be conducted, continuously striving to foster future food industries.

The Future Air Vehicle Demonstration Center to be established will be a support facility for research and development of future air vehicles, equipped with functional laboratories, system laboratories, distributed propulsion laboratories, and integrated control laboratories, expected to contribute to the development of future air vehicles and the creation of an industrial ecosystem.

Through the business agreement, the province and Jinju City will provide administrative and financial support for the construction of the demonstration center. KAI will provide technical support including equipment and personnel necessary for the center’s construction, and Gyeongnam TP will be responsible for the construction, management, and operation of the center, cooperating mutually to foster the future air vehicle industry.

Park Wan-su, Governor of Gyeongnam Province, said, “Future air traffic, which is attracting attention as the next-generation transportation means, is a field expected to experience explosive growth and will be an opportunity to create new added value through linkage and utilization with other industries.” He added, “Gyeongnam Province will secure its position as the capital of the aerospace industry by preoccupying the future air traffic market based on its accumulated aviation industry infrastructure.”

Gyeongnam Province has newly established a Future Aviation Industry Division dedicated to fostering the future aviation industry and plans to focus on creating an ecosystem for the future aviation industry through projects such as the construction of the AAV Demonstration Center (25 billion won), development of a Gyeongnam-type AAV test aircraft (3.3 billion won), Gyeongnam-type AAM route discovery demonstration project, and hosting international conferences on space industry and future air mobility.

This content was produced with the assistance of AI translation services.